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LINCOLN FOODS AGREES TO ACQUIRE CAROUSEL NUT PRODUCTS

 STAMFORD, Conn., March 11 /PRNewswire/ -- Lincoln Foods Inc. announced today an agreement to purchase the assets of Carousel Nut Products of Owensboro, Ky. The transaction is expected to close on Monday, March 15, in Owensboro. The sale price was not disclosed.
 The acquisition is Lincoln's first beyond its primary business as a manufacturer and marketer of candied pre-popped popcorn. Carousel processes and sells 10 different nuts for the retail market in all varieties: raw, roasted and salted, dry roasted, and specially coated (honey roasted and butter toffee). Carousel will roast nuts for Lincoln's current product line which includes Poppycock, Fiddle-Faddle and Screaming Yellow Zonkers.
 The announcement was made by C. Alan MacDonald, chairman and chief executive officer of Lincoln since its acquisition last fall by Noel Group, Inc. (NASDAQ: NOEL). Mr. MacDonald said that Carousel, which had sales of approximately $10 million in 1992, would become an operating part of Lincoln.
 Noel conducts its operations through small and medium-sized operating companies. In addition to Lincoln Foods, Noel's principal holdings are Sylvan Foods Holdings, Inc. (NASDAQ: SYLN), Curtis Industries, Inc., TDX Corporation (NASDAQ: TDXC) and Simmons Outdoor Corporation.
 -0- 3/11/93
 /CONTACT: C. Alan MacDonald of Lincoln Foods Inc., 203-363-5273; or Donald R. Dwight of Noel Group, Inc., 203-661-8480/


CO: Lincoln Foods Inc.; Carousel Nut Products ST: Connecticut, Kentucky IN: FOD SU: TNM

WB-OS -- NY068 -- 5202 03/11/93 15:24 EST
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Date:Mar 11, 1993
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